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The Financial Times Reports on TechnoServe’s Work in Latin America

October 17, 2012

The Financial Times highlighted TechnoServe’s work in Latin America in a report on development models that support and invest in entrepreneurs in emerging markets.

Business plan competition finalists in Venezuela participate in a TechnoServe training as part of Idea Tu Empresa, a Cargill-supported program that helps entrepreneurs launch businesses.

The Financial Times highlighted TechnoServe’s work in Latin America in a report on development models that support and invest in entrepreneurs in emerging markets. The article emphasized the role that programs such as Idea Tu Empresa play in linking entrepreneurs with public and private partners in order to unlock economic opportunities.

In one example, the group is working with Cargill in Venezuela and Foco Sustentable, an entrepreneur development group, on a business plan competition to help entrepreneurs in the seven regions where Cargill operates.

TechnoServe and its local partners work with the potential entrepreneurs to develop effective business plans and Cargill offers them opportunities to participate in its supply chain.

“There’s a legacy in certain groups in the region of distrust towards large corporations and toward the financial markets,” says Bruce McNamer, TechnoServe president and CEO.

“But, having a mission-based institution bringing together corporations and other market-based mechanisms in order to service the poor can bring all parties together.”